US Reserve considers unemployment action
Tue, 11 Sep 2012 6:46a.m.
The Federal Reserve will make a decision this week on quantitative easing in the United States.
Greg Smith of Fat Prophets says that given last week’s poor employment figures, it is likely they will go ahead with it.
“I think the odds are that they certainly will, we think they will,” he says. “Pressure has come to bear as a result of the jobs numbers last week which were slightly disappointing and that’s really the key focus.”
Mr Smith says politicians will be keeping a close eye on things ahead of the federal elections later this year.
“This is the last chance to stimulate prior to the US election and I think Obama and others are painfully aware of how high the unemployment rate is,” he says.
Watch the video for Firstline’s full interview with Greg Smith
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